In a report released today, Irina Rivkind Koffler from Mizuho Securities reiterated a Hold rating on Endo International (NASDAQ: ENDP), with a price target of $10. The company’s shares opened today at $15.09.
Rivkind Koffler noted:
“We previously discussed this issue with Endo mgmt. which noted that FDA will continue to restrict compounding of essentially copies of FDA-approved products. Additionally, we don’t think Endo was aware of Athenex and stated that if they were aware of another compounder (besides Quva as we understand it), then it would lift the stay on its FDA litigation (stayed until end of Sept) and seek a temporary restraining order and preliminary injunction in Federal Court. Bottom line, we think this news could drive significant volatility in Endo at the open, and potentially create an overhang on the stock while the litigation plays out. We are still updating our model after the earnings call but reiterate our Neutral rating while we digest this event.”
According to TipRanks.com, Koffler is a 5-star analyst with an average return of 11.9% and a 47.6% success rate. Koffler covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Eagle Pharmaceuticals Inc, and Pacira Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Endo International with a $15.77 average price target, implying a 4.5% upside from current levels. In a report issued on August 1, Canaccord Genuity also maintained a Hold rating on the stock with a $13 price target.
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Based on Endo International’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $60.87 million. In comparison, last year the company had a GAAP net loss of $1.4 billion.
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Endo International Plc operates as a pharmaceutical company. It focuses on developing, manufacturing, and distributing of branded and generic pharmaceutical products. The company operates through the following segments: U.S. Branded Pharmaceuticals, U.S. Generic pharmaceuticals and International Pharmaceuticals.
